What is MBC

MicroBitcoin is a decentralized peer-to-peer(P2P) payment protocol for the micro-economy.
MicroBitcoin platform is hard forked from Bitcoin’s 525,000 block,
and is intended to be a user-friendly cryptocurrency.

Vision and Mission

“

Fulfilling the Nakamoto’s original vision
of creating a true Peer-to-Peer
electronic-cash system for the
micro-economy”

Satoshi Nakamoto’s original plan for creating Bitcoin was to provide a decentralized system of payments which was not under the control of any centralized fiat-rendering organization. However, Bitcoin has found limited application for micro-payments because of the problems of scalability, slow transaction times and high transaction costs.

To realize this original vision, we have designed MicroBitcoin that is 10,000 times the total supply of Bitcoin which is of the lower unit price. However, in order to embody this faster transaction speed had to be implemented, and many difficulties including lower fees as well as high rewards for mining had to be faced. Thanks to various contributors all around the world such as Korea, the US, and Ukraine, we have now realized the policies for speed, transaction fees, and reward, and the coin has been developed. In addition, we have completed the coin to be usable in micro-economy through thorough security by implementing the new encryption algorithm, LWMA-3, for the first time in the world.

Nonetheless, risks that threaten MicroBitcoin can always arise due to an unexpected level of exponential growth of user numbers and technology advancement. We would like to leave this task to the open-source economy as a homework for everyone. As the concept of currency does not belong to anyone, we hope that MicroBitcoin settles down as a concept of a new currency. This signifies that no one can claim the authority of a creator and that it has to be the new form of payment through all participants who have and will contribute.

MicroBitcoin Ecosystem

1

Protocol

Core of the MicroBitcoin (MBC) protocol that enables MBC to be sent between peers in a truly decentralized manner.

2

Interface

From CLIs to APIs, the layer that applications use to connect and utilize the MicroBitcoin (MBC) protocol.

3

Application

Softwares that enable end users to transact MicroBitcoin (MBC) between peers in a decentralized manner.

4

Service

Entities that provide services to end users using the applications built to transact using the MicroBitcoin (MBC) protocol.

Basic Technology

LWMA

This adjusts difficulty based on a Linearly Weighted Moving Average (LWMA) of the solvetimes or "estimated correct target". It is a linearly weighted moving average of the weighted harmonic mean of the estimated correct hashrate, which is where the incorrect 'WHM" name originally came from.

Block Size and Interval

SegWit has the effect of 4MB increase to the block size per block. This increases the number of transaction per second. MicroBitcoin also lowered the interval between the creation of new blocks to one minute to facilitate near-instant transaction confirmations for micropayments.

Block Rewards

The ratio of the increase in MicroBitcoin supply in relation to existing BTC supply will be applied to block rewards. 125 * 10,000 / 10 = 12,500 MBC per block. Miners will
receive more MBC rewards compared to the BTC according to the formula above.

SegWit

By segregating the signature block and thus reducing the data size by 60%, the transaction time and cost have been reduced. This is an important solution that allows Bitcoin to contribute to micro-economy.

Replay Protection

Replay Protection is the generalized term used in describing techniques for prevention of replay attacks. MicroBitcoin implements the SIGHASH_FORKID to protect transaction on the network.